Shortly after being named president and CEO of BATS Global Markets, Joe Ratterman wrote a letter to the industry saying the small upstart trading technology firm wouldn’t relent on its plans to capture a sizeable market share.
Well, Ratterman is a man of his word. In his three short years at the helm of the global financial markets technology company, BATS has become a dominant player in the exchange landscape in the United States and Europe.
The name BATS might not be as recognizable to you as the New York Stock Exchange, Nasdaq or the London Stock Exchange, but Ratterman’s leadership has led the company to provide an important alternate venue for U.S. equity trading that is both technologically advanced and inexpensive for users.
In 2008, BATS’ growth seemingly took off overnight. Ratterman and his team filed for SEC approval to become a U.S. securities exchange. BATS Exchange was soon launched and, in October of that same year, BATS Europe went live.
To put the company’s success into numbers, among global exchange operators, BATS Exchange ranks in the top three worldwide by notional value (total dollar value of shares traded). It handles $20 billion to $40 billion in notional value daily, which is more than either the London or Tokyo stock exchanges.
Ratterman uses the same enthusiasm for growth as he does to maintain the entrepreneurial spirit of the company culture. BATS works to keep its employee count lower than most exchange operators. That stand allows for the staff to engage in informal interaction during catered lunches. And it allows the company to provide competitive quarterly bonus incentives.
While BATS’ mission is “Making Markets Better,” it also tries to better its communities. Employees are given paid time off to participate in community service.
How to reach: BATS Global Markets, (913) 815-7000 or www.batstrading.com